Marijuana consumers were taking advantage of a tax holiday in Colorado on Wednesday, with some lining up early for doorbuster-style deals.
A quirk in state law led Colorado to suspend most taxes on recreational pot for one day, including a 10% sales tax on pot and a 15% excise tax on marijuana growers…
At the Grass Station near downtown Denver, a dozen shoppers were in line before doors opened.
“Lower prices are always better,” said Benjamin DelCarpio of Centennial, who was rewarded for standing in line with a 50% off coupon.
The tax break is happening because Colorado underestimated overall state tax collections last year. Under the state constitution, the accounting error triggers an automatic suspension of any new taxes – in this case, the recreational marijuana taxes voters approved in 2013…
Wednesday’s break came a day after Colorado made final its accounts for the fiscal year that ended in June.
The final tax numbers covered the first full fiscal year in which adults over 21 could legally buy both marijuana and alcohol.
Alcohol excise tax collections were up 2.4%, to about $42m. Marijuana-specific taxes came in at about $70m…The figures don’t include a statewide 2.9% sales tax.
The pro-legalization Marijuana Policy Project lauded the sales tax holiday as “a much-deserved day off” for marijuana consumers, who carry a heavier tax burden than people who buy alcohol.
Conservative politicians are still holding their breath – and swearing they never inhaled. All that happens in states where weed is legal is that drug use drops, high school kids do not start showing up for class bearing bags of munchies, automobile accidents don’t increase – and the moon doesn’t start shining out the butt of a purple cow.
Fear-stricken fools will not relent. Folks with adult brains, respect for science and real education have to continue to fight to put politicians into elective office with sufficient ethics to avoid being beholden to priests, pundits and payoffs rooted in 19th Century belief systems.